New York State Homes and Community Renewal

New York State Homes and Community Renewal (HCR) is the State of New York's umbrella affordable housing agency and housing finance entity. It serves as the state's affordable housing lender, with a mission to "build, preserve and protect affordable housing and increase homeownership throughout New York State". HCR consolidates and coordinates the activities of several housing agencies and public-benefit corporations, including the New York State Division of Housing and Community Renewal (DHCR), the New York State Housing Finance Agency (HFA), the State of New York Mortgage Agency (SONYMA), the New York State Housing Trust Fund Corporation (HTFC) and the New York State Affordable Housing Corporation (AHC).

Through these components, HCR finances single-family residential mortgages and multifamily rental housing, provides mortgage insurance, administers rent regulation and rental assistance programs, and awards grants to local governments and non-profit organizations for the construction and rehabilitation of affordable housing.

HFA and SONYMA are self-funded public-benefit corporations that finance their activities primarily through tax-exempt bonds and program income instead of direct appropriations from the state general fund, while AHC and certain housing programs administered by HTFC receive appropriations through the state budget.

It was created from the merger of DHCR and the "nyhomes" group of housing finance authorities on September 22, 2010.